Central Bank Digital Currency Research Institute Director: Stablecoins and Various Cryptocurrencies Are Rapidly Developing, Multilateral Central Bank Digital Currency Bridge Cumulative Transaction Volume Nears 500 Billion Yuan

Odaily Planet Daily reported that Mu Changchun, Director of the Digital Currency Research Institute of the People's Bank of China, delivered a speech titled "Central Bank Digital Currencies Reshaping Cross-Border Payments" at the 2026 Summer Davos Forum. He stated that new variables have emerged in the international monetary system, with stablecoins and various cryptocurrencies developing rapidly, pushing the global cross-border payment system into a new stage of development. Mu Changchun revealed that since the mBridge successfully entered a phase of sustained real transactions in June 2024, as of the end of 2025, the platform's cumulative transaction volume has reached nearly 500 billion yuan. Its ultimate goal is to evolve into a new type of Financial Market Infrastructure (FMI) built by central banks and participated in by financial institutions under a multilateral governance and equal mutual benefit framework. (Cai Jing)